Please join ACA for a roundtable-format webcast designed to assist compliance professionals of real estate investment advisers in dealing with the Investment Advisers Act as it uniquely applies to the real estate business model. This discussion will be led by ACA’s Colleen Marencik, a director at ACA who works with real estate investment advisers.
In recent months, ACA has observed an increase in U.S. Securities and Exchange Commission ("SEC") examinations of private real estate fund investment advisers. Since 2012, when many private fund managers became registered with the SEC as a result of the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act, the SEC's staff mostly focused on hedge fund and private equity fund managers. Now, examiners appear to be turning their attention to private real estate fund managers as well.
This paper will demonstrate the importance of the Global Investment Performance Standards (GIPS®) in the marketplace and provide a roadmap for adopting the GIPS standards. We also want to demonstrate the benefits of claiming compliance with the GIPS standards and having the firm verified by an independent third party. The GIPS standards were created to provide an ethical framework for calculating and presenting a firm’s investment performance history.